Custom Trend Following Indicator on TradingView [Published Pinescript]
Hello everyone, it's been a while I've published anything, and today I'm back with something different.
Presenting the Retail Insider Trend following Indicator.
Disclaimer: This is not financial advice, and I'll recommend you to do your own research and manage risk properly before taking any trades.
After a month of learning Pinescript and experimenting with code to come up with a trend-following indicator, I think I found something that can be useful for the community.
I published the indicator free of cost, open-source, for anyone with a tradingview account to use.
(In case you don't have an account, please feel free to follow this link and open an account: https://www.tradingview.com/gopro/?share_your_love=Bee_a_Trader )
This is a simple trend-following indicator that is optimized to be used on higher timeframes (like 4hours, or 6 hours, or 1 day, etc). and should give early trend-changing alerts/entries.
If you have the pro or above on tradingview, you can use more than 1 alert.
But either way, you can use the indicator free of cost even if you are on a free account.
So do check the link out for the indicator, and give a follow to show support.
Here's the indicator link:
https://www.tradingview.com/script/a8ZKQCiM-Retail-Insider-Trend-Following-HTF-ONLY/
In simple terms, if the price goes above the offset and closes, it should confirm a bull market,
and, if the price goes below the offset and closes below, it should confirm a bear market.
I have used a simple moving average function to use some delay, to avoid choppy trends and no trends, and to alert us only if there is a clear trend change.